FG to concession eight-lane Abuja airport road

There are indications that the Federal Government plans to concession the eight-lane Abuja Airport Road to private sector investors because the project is suffering a funding shortfall of N51bn needed for its completion

Consequently, the Minister of the Federal Capital Territory, Senator Bala Mohammed, has approached the Infrastructure Concession Regulatory Commission to initiate a Private-Public Partnership arrangement to complete the project, which has reached 80 per cent completion.

Dependable sources at the FCT Administration said that the minister met the ICRC Chairman and former Head of the Interim National Government, Chief Ernest Shonekan, on February 14, when a deal was struck.

If the concession succeeds, it means that toll gates will be built on the road for the private sector investors to recoup their investment.

The very busy road serves as the only gateway to Abuja from the southern part of the country and also leads to the Nnamdi Azikiwe International Airport.

Mohammed told the ICRC chairman that the project could be stalled if there was no assistance from the private sector as the N51bn required for its completion was not in the 2012 budget of the FCTA.

The minister reportedly said, “There is no provision for the road in the 2012 budget. FCT has no means of carrying on with the road unless the ICRC can help us with a PPP arrangement to get private investors to take over and then we agree on the terms.”

Source